Two very different tax stories this week. In America, @realDonaldTrump is cutting taxes, the oft-mooted theory being that putting more money into the economy makes everyone, not just the rich, richer and more, not less tax is paid in the end. In Scotland, @NicolaSturgeon (who doesn’t have quite as many Twitter followers) is on the well-trodden ‘those with the broadest shoulders should pay more’ path. Which will work? Will either be in power long enough for us to find out?
Our mantra has long been ’straightforward advice that you can understand’. That can mean trying to simplify the many complex products and options with which the world of finance tries to befuddle its target audience.
Our mantra has long been ’straightforward advice that you can understand’. That can mean trying to simplify the many complex products and options with which the world of finance tries to befuddle its target audience.
It’s easy to forget that five years ago the Bank of England Base Rate was at an all-time low of 0.1%, and only rose above 1% with the arrival of Liz Truss later in 2022. Something of which we often have to remind those who, when looking at how their investments have fared over the same period after yet another Trump Tweet has pushed markets in one direction or another, tell us ‘we could have been getting 4% a year if we’d left it all in the bank’.